Test 1 Flashcards
Planning
Always start with budget
Effective and Efficient
Effective is producing and efficient is how well resources are used
Organizing
Create working relationships to achieve goals
Integration and Interdependence
The action and 2 or more people
NAFTA countries
USA, Canada, & Mexico
ASEAN
Asian Nations
ASEAN Goal
Economic growth
Association that deals with global disputes
WTO
Trade Agreement
European Union
Economies of Scale
Efficiency
Introduction
Advertise
Growth
Increase Sales
Maturity
Demand slow
Decline
Profits fall
CSR
Balancing business operations and interactions
Obstructionist Stance
Doing little as possible
Accommodative Stance
Doing the little extra
Proactive Stance
Tries to help with groups
Ethnocentric
Apply morality used home country regardless of host’s country’s system of ethics
Ethical relatvisim
Morally accepted good or bad
Legal act corruption
Corrupt Practices Act 1977
Moral Universalism
Addressing the need for moral standard
Horizontal Integration
Adding related products
Stuck in middle
Sears and Kmart example
Corporate level of strategy
Competing outside industry
Backward integration
Distribution
Forward integration
Own customer
Crowding out
Increase in borrowing
Offshoring
Advantage of lower costs overseas
37
B
3 Generic startegies
Overall cost leadership, differentiation, & focus strategy
Business level startegy
Within industry
Switching costs
Switching phone plans
Supply of power
No substitutes for suppliers products
International diversification
Finding new markets
Stakeholder & Shareholder
Shareholder is owner of stock
